Framework Journal · one stock, one dated entry

Recorded 2026-07-19 · Permanent

Flexible Solutions International, Inc. FSI

Clears both ethical standards

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

In plain words · Flexible Solutions International, Inc., together with its subsidiaries, develops, manufactures, and markets specialty chemicals that slow the evaporation of water in Canada, the United States, and internationally.

The label
Distribution

read at $5.94

Flexible Solutions International, Inc. holds its Distribution at $5.94.

PHINPOOPSC
  • PHPhase · the trend structure carries the Distribution label
  • INInsiders · no filings inside 60 days, left as found
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · passes the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-07-19
PhaseDistribution · caution
Quantitative stateThe statistical read favours the sellers, held for 165 days
Price$5.94
Valuation99.00 trailing · 18.56 forward price to earnings
Values screenPASS · score 91.3
Beta1.65

The opportunity · what the numbers say it is worth

Our framework reads AVOID — it trades above our $5.60 fair value estimate, weak competitive moat, 11.00% revenue growth.

Read at
$5.94
99.00 P/E · 18.56 fwd
Our fair value
$5.60
6% premium
Analyst target (avg)
$8.50
+43% to current

Price history & projections · where it has been, where the models see it going

$9.0$5.3$1.5TODAY5y agoPROJECTIONAnalyst avg$8.50 +36%Analyst high$8.50 +36%Conservative$5.60 -11%Our fair value$5.60 -11%

The valuation journey · where the price sits against fair value and the Street

Current
$5.94
you are here
Conservative
$5.60
-6%
Analyst avg
$8.50
+43%
Our fair value
$5.60
-6%
Analyst high
$8.50
+43%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish — a quality-at-a-fair-price name rather than a deep-value one.

Revenue growth11.00%
Profit margin2.09%
Debt to equity31.28
Analyst consensusNone · 1 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

This company clears both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. Here is how it did on each:

The common standard · AAOIFI
Used by most halal investing apps
✓ PASSES
Our stricter standard · asset-based
The one Titan applies
✓ PASSES

What these two standards are, and how they differ →

  • Business activity Its core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending. Pass
  • Debt load Interest-bearing debt is just 13.2% of its assets, well under the one-third ceiling — it does not run on borrowed money. Pass
  • Interest-bearing cash Cash held in interest-bearing accounts and securities is 9.8% of assets, under the one-third limit. Pass
  • Receivables Money owed to the company is 0.0% of assets, under the 49% limit. Pass
  • Revenue purity Only 0.0% of revenue comes from non-compliant sources — under the 5% line. Pass

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

Why it gives us pause

At 18.6x forward earnings, the price already runs ahead of the business. It trades 6% above our $5.60 fair value, so you would be buying at a premium, not a discount. The weak moat is real, but quality alone does not make an expensive price cheap.

The fundamentals · plain-English read
Forward P/E18.6x
priced for continued growth
Trailing P/E99.0x
expensive — the price assumes strong growth ahead
Revenue growth11.0%
steady growth
Profit margin2.1%
barely profitable
Return on equity5.6%
a modest return on shareholder capital
Debt to equity0.31
minimal debt — a conservative balance sheet
Current ratio2.56
comfortably covers its short-term bills
Beta1.65
much more volatile than the market
Market cap$76M
Employees78

The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day; its business and earnings are exposed to Canada and to currency swings.

Plain-English interpretation of our own screen data. Analysis, not advice.

Related securities · others in FSI's space worth a look

Screened names in the same industry · explore each on its own page.

Where & how to trade · wherever in the world you are

FSI trades on NYSE American (the company is based in Canada). As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.

The trader read · the latest dated commentary

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Over the past year the shares are up 45%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it strong buy, with a mean price target of $8. Entered 2026-07-18 · Accumulation

The dated journal · newest first, never edited

2026-07-18 Accumulation $6.26 +0.0% Entry 3

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading bullish. Over the past year the shares are up 45%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (1 analysts) rates it strong buy, with a mean price target of $8.

2026-07-03 Accumulation $6.26 +0.0% Entry 2

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with near-perfect ethical score (91). The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Accumulation $6.26 Entry 1

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with near-perfect ethical score (91). The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The insider ledger · Form 4 filings, as filed

Most recent filings · FSI
DateInsiderTitleTypeSharesValue
2026-02-03 O BRIEN DANIEL B Chief Executive Officer 12,500 $73,500
2026-02-03 O BRIEN DANIEL B Chief Executive Officer 16,497 $95,353
2026-01-29 O BRIEN DANIEL B Chief Executive Officer 4,003 $23,578
2026-01-28 O BRIEN DANIEL B Chief Executive Officer 101,500 $596,120
2026-01-16 HELINA ROBERT THOMAS Director 10,000 $61,400

Public filings, recorded as found. The full tape lives at Insider Intelligence.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $6.05 +3.5% · $1,035 +3.5%
2 months $5.41 +15.7% · $1,157 +15.7%
3 months $5.70 +9.8% · $1,098 +9.8%
6 months $6.91 -9.4% · $906 -9.4%
1 year $4.31 +45.2% · $1,452 +45.2%
2 years $2.03 +208.0% $0.10 $3,129 +212.9%
3 years $2.80 +124.0% $0.10 $2,275 +127.5%
5 years $3.45 +81.5% $0.15 $1,858 +85.8%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever FSI does next, these words stay.

Flexible Solutions International, Inc. · FSI · Distribution · $5.94
Recorded 2026-07-19 · before the outcome · scored mechanically

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